Bayleys Real Estate Ltd
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Grafton

110 Symonds Street, Grafton, Auckland

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1,852sqm Land area SQM
8,846sqm Floor area
170 Offstreet
End of trip facilities

Expressions of Interest

Attractive yield with expected rental growth


• Substantially renovated with near fully upgraded services
• Good tenancy profile with an average net rental of $275 per sqm
• Two-tower design offers excellent occupation flexibility
• Passing net income of $2,713,780pa

Astute investors will see the potential of this well-known Symonds Street ridge office building. The building enjoys an impressive car parking ratio providing the purchaser multiple re-development options.

The property is located 10 minutes from Auckland's CBD and within Auckland's growing education precinct. With easy access to the nearby motorway interchange, bus connections, and the new Karangahape underground City Rail Link (CRL) station. A well-regarded fringe city position with significant infrastructure improvements at Karangahape Road, close proximity to Auckland Hospital, and the extended Cordis Hotel opposite.

Over the past 24 months, the major capex upgrade included three new lifts, sprinklers, HVAC, LED lighting, amenities, and security. Longer term, the property offers redevelopment potential for mixed commercial and residential purposes and is suitable for student accommodation, build-to-rent, co-living, or hotel.

For sale by Expressions of Interest (unless sold prior). Closing, 4pm (NZST), Wednesday 24th April 2024, Bayleys House, 30 Gaunt Street, Auckland, New Zealand.

All requests for information and arrangements, including site inspections are to be directed to Bayleys as the sole agent.

Tommy Zhang
+64 21 760 889
tommy.zhang@bayleys.co.nz

Layne Harwood
+64 21 630 136
layne.harwood@bayleys.co.nz

Ian Hall
+64 21 451 411
ian.hall@bayleys.co.nz

Ian Hall

Ian Hall

Commercial, Development and Investment Sales

Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Layne Harwood

Layne Harwood

Commercial, Development and Investment Sales

Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008
Tommy Zhang

Tommy Zhang

Commercial, Development and Investment Sales

Bayleys Real Estate Ltd, Auckland Central,
Licensed under the REA Act 2008

Features

Passing income


Passing net income of $2,713,789pa

Occupancy


Good tenancy profile with an average net rental of $275 per sqm

Transport access


Easy access to the nearby motorway interchange, bus connections, and the new Karangahape underground City Rail Link (CRL) station

Location


10 minutes from Auckland’s CBD and within Auckland’s growing education precinct

Have your questions answered

Our agents are experts on all things in the property market, if you haven't found what you're looking for, please enquire with the listing agent now to have all of your property questions answered.

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